An Industry out of business...

The worldwide recession has really hit the fashion business hard. We actually felt it pretty much the same day as it started last fall. Probably because some of our client’s investors pulled back their promised capital as soon as the stock markets took a dive. Luxury goods and especially accessories is not the first thing you think of buying when the economy goes into recession. However, luxury goods are also the first things that will pick back up when the people with money gets tired of not spending and when they realize that loosing 50% of a billion still leaves them with 500 millions;) So, although it makes the business of today harder, I believe it’s a sane clean up of too many unstructured brands and too many posh stores based on passion rather than money making. This is a fact that makes it hard to navigate and finding out which stores to trust for the future or not. Bills need to be paid all the way through, from producer to consumer. Lets just hope it ends faster than what it’s pointing towards at the moment.

/JBL

Empty shelves...